Other income jumped 66% to Rs 2.98 crore and interest cost grew from Rs 11 lakh to Rs 88 lakh.

As depreciation was down 8% to Rs 2.60 crore PBT stood at a loss of Rs 7 lakh against a profit of Rs 1.46 crore.

Provision for tax was NIL against Rs 27 lakh after which net loss stood at Rs 7 lakh against a nret profit of Rs 1.19 crore.

FY 2017 results

In FY 2017, Ador Welding registered a 2% fall in sales to Rs 440.57 crore. OPM fell 200 basis points to 7.0% which saw OP fall 24% to Rs 30.94 crore.

Other income rose 69% to Rs 9.40 crore and depreciation was down 4% to Rs 11.22 crore. Thus PBT fell 17% to Rs 28.12 crore.

EO loss was NIL against Rs 1.95 crore. Thus PBT after EO fell 12% to Rs 28.12 crore.

Provision for tax grew 3% to Rs 9.45 crore after which net profit fell 18% to Rs 18.67 crore.

Segment results

For the quarter, sales from the Consumables Segment fell 13% to Rs 55.46 crore and accounted for 59% of total. PBIT from the same fell 25% to Rs 4.18 crore and accounted for 175% of total.

For the quarter, sales from the Equipment & Project Engineering Segment grew 75% to Rs 38.64 crore and accounted for 41% of total. Loos at the PBIT level from the same grew 14% to Rs 1.79 crore and accounted for -75% of total.

In FY 2017, sales from the Consumables Segment grew 3% to Rs 282.35 crore and accounted for 64% of total. PBIT from the same grew 3% to Rs 35398 crore and accounted for 93% of total.

In FY 2017, sales from the Equipment & Project Engineering Segment grew 20% to Rs 158.22 crore and accounted for 36% of total. PBIT from the same fell 77% to Rs 2.88 crore and accounted for 7% of total.

PBIT margins

For the quarter PBIT margins for the Consumables segment fell from 8.7% to 7.5% while that of the Equipment & Project Engineering business improved from -7.1% to -4.6%.

In FY 2017 PBIT margins for the Consumables segment remained unchanged at 12.7% while that of the Equipment & Project Engineering business fell from 9.5% to 1.8%.

Valuation

The share price trades at Rs 381.